Meruelo Maddux exclusive plan-solicitation period extended to Nov. 27

By Caroline Salls

Pittsburgh, Oct. 19 - Meruelo Maddux Properties, Inc. received court approval of a fifth extension to its exclusive period to solicit votes on its plan of reorganization, according to a Tuesday filing with the U.S. Bankruptcy Court for the Central District of California.

Specifically, the exclusive period was extended to Nov. 27 from Sept. 30.

The company said it believes the extension is needed to afford the debtors and other plan proponents enough time to obtain final approvals of their disclosure statements, submit the plans to creditors for voting and complete the balloting process.

Meruelo Maddux, a self-managed, full-service real estate company that develops, redevelops and owns commercial and multi-family residential properties, filed for bankruptcy on March 26, 2009. Its Chapter 11 case number is 09-13356.

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